Case study #6: Steve Pritchard of Perceptive Financial Solutions

Steve Pritchard is a director of Perceptive Financial Solutions and has over 30 years financial services experience.

How long have you been using IBOSS?

Since 2010.

What services do you use?

We use their Portfolio Management Service generally for our client’s investments, principally their ISAs.

Are you using IBOSS as part of a formalised Centralised Investment Proposition?

Absolutely, it’s a fundamental part of our Centralised Investment Proposition.

How did you first find out about IBOSS?

We were first introduced to IBOSS by Sense Network back in 2010.

We were adopting fund supermarkets and platforms in our business at the time, the next logical step was to outsource the management of the money.

We were attracted by the white labelled nature of the IBOSS proposition, which provides quarterly investment updates to our clients. We were also impressed by the diversity of the actively managed portfolios.

What were the important factors when you were looking for an investment partner?

Ensuring our partners have robust, methodical, processes in place is very important to us. This is certainly the case with IBOSS.

Diversification is important too. Each of the IBOSS portfolios are well diversified, typically holding 30 – 40 funds, with the exposure to each fund carefully managed. The above average performance, coupled with the low volatility of the portfolios, is testament to the emphasis IBOSS place on diversification.

Finally, although not offered elsewhere, the quarterly investment updates are important to us and clients. From our perspective they are sent with our branding, which enhances the client’s perception of the service we offer. Our clients are engaged with the process and clearly value the communications; we have a 100% response rate over the past four quarters.

About half receive the investment updates by email, the remaining 50% get theirs in the post.

How have your clients reacted?

We’ve been selective and only used the IBOSS proposition for clients who we knew would engage with it. We prepared them too, showing clients what they will receive and educating them on the importance of engaging with the reviews.

Their response rate has vindicated that decision and our clients are happy when they look at their returns.

Is it possible to identify the single largest benefit to you or your clients in your relationship with IBOSS?

From our perspective it’s the level of client satisfaction with the service; both the results and the communications.

For clients, it’s the consistent performance.

In three words, how would you describe IBOSS?

Efficient

Consistent

Engaging